safecoin is the crypto currency of the SAFE (Secure Access For Everyone) network.

The SAFE network takes all the Internet services currently available today and decentralizes them, removing servers and other central points of weakness enabling privacy, security and anonymity to all Internet users for the first time.

safecoin is a fair and transparent way of giving end users, developers and backers the opportunity to get involved with SAFE network. safecoins may be earned, traded or purchased and a total cap of 4.3 billion will be generated.

Backers Purchase safecoins

It is also possible to buy safecoin and buyers anywhere in the world will be given the opportunity to do so during an up and coming crowd-sale. The sale event will run until ten percent of all safecoins (429,496,729) are sold or 30 days have passed, which ever happens first. safecoin will be made available to buyers through a proxy token, MaidSafeCoin. Once the MaidSafe network goes live, the MaidSafeCoins will be redeemable for the network’s native safecoins at a 1-to-1 ratio.

The crowd sale will commence at 9 am GMT on the 22nd of April. Purchases can be made using either bitcoin or mastercoin with all purchases being recorded on the Bitcoin blockchain, via the Master protocol. It will be possible to trade MaidSafeCoin immediately, and this intermediary coin will remain while the SAFE test network remains in place.

Buyers GuideYou will need to have bitcoins or mastercoins to participate as a Backer in the MaidSafeCoin crowd sale. You should obtain bitcoins or mastercoins from a source that you trust. Great info is available here: bitcoin.org/en/getting-started and mastercoin.orgOnce you have your bitcoins or mastercoins, go to buysafecoins.comAt 9AM GMT, Tuesday 22nd April, two SAFE Network “exodus” addresses will be published, one for Bitcoin, and one for Mastercoin.Backers will receive 17,000 MaidSafeCoins per bitcoin sent to the SAFE Network Bitcoin exodus address or 3400 MaidSafeCoins per mastercoin sent to the SAFE Network Mastercoin exodus address.Send the amount of bitcoins or mastercoins from your wallet to the SAFE exodus address for Bitcoin or Mastercoin (be sure to send only bitcoins to the Bitcoin address, and only mastercoins to the Mastercoin address, or the transactions will be considered invalid). Your purchase will be recorded directly on the Bitcoin block chain.Please note: if you are using a coinbase account, or an account where you don’t have control over the private keys please go to Appendix B https://docs.google.com/a/maidsafe.net/presentation/d/1zhrtkCY1R5HnoB719Xp16bNTaqXuJKGjNYOPktKAbCw/edit#slide=id.g2726e6bdb_410:If your funds are returned to you it is either because you have sent currency to the wrong exodus address, e.g. mastercoin to the bitcoin address, or all coins have been sold and the sale has endedAs the funds are received MaidSafeCoins will be issued and sent to the address used to send the funds. Please note that it may take up to 24 hours for these transactions to be processed.Mastercoin block explorers (such as masterchest.info) can be used to view your MaidSafeCoin balance. A Mastercoin wallet (downloadable or web-based) is needed to send MaidSafeCoins to other addresses. Mastercoin wallets are available at mastercoinwallets.orgUsing your Mastercoin wallet, it will be possible to send MaidSafeCoins to the MasterXchange to trade MaidSafeCoins masterxchange.comOnce the full SAFE network is launched, MaidSafeCoins will be swapped for safecoins at a 1:1 ratio.Proof of Resource diagramEnd Users Proof of Resource

End users can farm (or earn) safecoins by providing Proof of Resource (POR).

In many crypto currencies and decentralized networks a proof of something is required to allow the network to validate actions or services via a mathematically verifiable mechanism. Within the SAFE network, nodes (users computers) are validated in a very efficient, accurate and cryptographically secure manner. End users can earn safecoin by contributing resources to the network, we call these resource providers ‘farmers’. Farmers provide these resources by running a vault (a node on the network) which handles requests and stores data for other users. There is no set up required to turn your computer into a vault, it is just a simple software download.

The resources in question are storage, CPU, online time and bandwidth. The SAFE network is able to constantly measure and immediately verify these resources, this is called Proof of Resource (POR). This POR facilitates the exchange of storage space on the SAFE network. To earn safecoin, farmers must provide more resources than they are using and the amount of safecoin they earn directly relates to the amount of resource they are providing. There are no humans involved in this process and the network stores data randomly across all nodes, similar to a lottery. The more resources you provide the more lottery tickets you have!

15% of all safecoin earned will be allocated to the developer pool. This will ensure the developer community is highly motivated and rewarded for providing free-to-use applications as their revenue model. It is proposed that developers are able to use the SAFE network to publish their applications. These application developers are called Builders and the network will reward use of these applications by paying the Builders in safecoin based on the application use by users of the system. This is possible since the application developer can insert their own network immutable wallet address in their application. This exciting proposal may be a fully automatic revenue model for both open source projects, private individuals and application development companies. Developers who contribute code that enhances or fixes bugs in the SAFE network that are accepted into the master branch of the codebase will also be able to earn safecoin.FAQs What would you like to know?

How can I become a backer of safecoin?Backers can participate in the crowd sale by sending either bitcoin or mastercoin to the relevant address, published on www.buysafecoins.com as the sale starts. Two addresses will be published, one for bitcoin, and one for mastercoin. As the funds are received MaidSafeCoins will be issued and sent to the address used to send the coins. Please note that it may take up to 24 hours for these transactions to be processed. Once the full SAFE network is launched, MaidSafeCoins will be swapped for safecoins at a 1:1 ratio.

How will I receive my MaidSafeCoins during the crowd-sale?MaidSafeCoins are generated and distributed via the Master Protocol on top of the Bitcoin blockchain, so your Bitcoin address will also be your MaidSafeCoin address. In order to view your balance and send your tokens, you will need to use a Mastercoin wallet, such as Masterchest (for Windows) or Masterchain.info (web wallet for Mac and Linux users). These wallets will support MaidSafeCoins upon commencement of the crowd-sale.

When should I purchase MaidSafeCoins?The crowd-sale of MaidSafeCoin has an early backer incentive mechanism. Early backers will receive additional MaidSafeCoins for their purchase on the following scale:

First Week Incentive: 40% bonusSecond Week Incentive: 30% bonusThird Week Incentive: 20% bonusFourth Week Incentive: 10% bonusFor the coin issuance we are utilising the block chain via the master protocol. The bonus algorithm works by applying a 40% bonus in the first block, 39.99% bonus in the next block..etc., down to 30% bonus for the first block in week 2.

Up to 429,496,729 MaidSafeCoins will be generated during this crowd-sale. Once this number is reached the crowd-sale will end, so there is an incentive to become involved early.

Where can I trade my MaidSafeCoins once they are purchased?You will be able to exchange your MaidSafeCoins for safecoins once the SAFE Network is launched, and you will also be able to trade your MaidSafeCoins immediately upon receipt at exchanges that support MaidSafeCoin. MasterXchange.com is an exchange that will support MaidSafeCoin immediately once the crowd-sale has begun, so once your purchase has occurred you will be able to trade your MaidSafeCoins immediately. You will be able to send your MaidSafeCoins to any Bitcoin address (using a Mastercoin wallet) as soon as they are received by you.

What is the Master Protocol?The Master Protocol, developed by the Mastercoin Foundation, facilitates the creation and trading of smart properties and user currencies as well as other types of smart contracts by encoding information directly on the Bitcoin blockchain.

The Master Protocol is decentralized, and like safecoin, “removes the middlemen” in network transactions, with a focus on transactions that occur on the Bitcoin blockchain. Mastercoin and the Master Protocol are driven by the community and leverages the decentralization of the network to provide value and increased functionality.

with a market cap of 126 million being announced a few days before the launch (this post was made today) I am starting to see the need for regulation (and I am the last to say that) this is a pure scam. Very well put together scam

with a market cap of 126 million being announced a few days before the launch (this post was made today) I am starting to see the need for regulation (and I am the last to say that) this is a pure scam. Very well put together scam

i am sure their buddies will get good deals, its only we sucker that will pay for the full price 1BTC = maidcoin

with a market cap of 126 million being announced a few days before the launch (this post was made today) I am starting to see the need for regulation (and I am the last to say that) this is a pure scam. Very well put together scam

You should do your homework seriously. The above information is exactly same as the http://www.safecoin.io/.Thanks for your prudence!Maidsafe

Dude, you need to learn to talk using your mouth instead of your anus. How exactly is this a scam when the Bitcoin address hasn't even been posted yet (meaning they haven't collected any money).Sometimes I wonder what is lower amongst the posters on this forum - their age or their IQ.

lol

Come on, feel free to invest in something that is either a scam or already exist for free since 2000 (freenet).